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  • Korean sovereign bonds emerges as Asias standout bond trade: MarketAxess
    Korean sovereign bonds emerges as Asia's standout bond trade: MarketAxess SEOUL, July 15 (AJP) — While foreign investors have grown increasingly selective across Asia's bond markets, South Korea has emerged as the region's lone standout, attracting uninterrupted monthly inflows into government debt as global funds bet on the country's semiconductor-driven economy and forthcoming inclusion in one of the world's most influential sovereign bond indexes. "Korea has certainly been an interesting market when we look at Korean Treasury Bonds," Roheet Shah, head of dealer sales for Asia-Pacific at MarketAxess, a Nasdaq-listed electronic bond trading platform, told AJP. "It's the only market where we've seen consistent month-on-month net buying so far this year." The steady inflows sharply contrast with other Asian bond markets—including Indonesia, Malaysia, Thailand, Singapore, the Philippines, Hong Kong and China—where foreign demand has ebbed and flowed with changing expectations for U.S. interest rates and domestic monetary policy. At the center of Korea's outperformance is its phased entry into the FTSE World Government Bond Index (WGBI), one of the world's most widely followed sovereign debt benchmarks tracked by global asset managers, pension funds and central banks. "WGBI inclusion is probably one of the dominant technical drivers of the KTB market," Shah said. Korea began joining the index in April and is scheduled to complete the process in November. Market estimates suggest the inclusion could ultimately attract between $50 billion and $60 billion in foreign capital. "Since the inclusion began, market inflows saw around 37 trillion won worth of Korean Treasury Bonds based on MarketAxess platform data." Official figures underscore the momentum. Foreign investors bought a net 5.9 trillion won of Korean bonds in July after purchasing 13.9 trillion won in June, according to the Financial Supervisory Service. Net purchases have reached 62.9 trillion won so far this year, putting 2026 on track to rival last year's record inflows. More importantly, Shah said the buying has broadened well beyond passive index-tracking funds. "Foreign buying from April to June has already exceeded the level seen during the same period last year, based on MarketAxess platform data." The inflows have come from central banks, global asset managers, macro hedge funds and Japanese institutional investors positioning ahead of Korea's full WGBI inclusion, suggesting the rally is being supported by active portfolio allocations rather than purely mechanical index demand. Structural reforms have reinforced that appeal. Longer foreign-exchange trading hours, streamlined settlement procedures and easier market access have significantly improved Korea's competitiveness among global fixed-income markets. "We've also seen improving market accessibility. Together, these factors have helped create a deep and liquid capital market." Perhaps the strongest endorsement of Korea's bond market is that overseas demand has remained resilient even as expectations for Bank of Korea rate hikes have strengthened. "As I mentioned, we've seen net buying month after month despite concerns over increased bond supply and potential Bank of Korea rate hikes." Investor expectations have shifted markedly over the course of the year. "Conversations with our clients have clearly shifted from expectations of rate cuts at the beginning of the year to rate hikes." According to Shah, stronger semiconductor exports, AI-related investment and improving economic momentum have steadily pushed investors toward a more hawkish outlook for Korean monetary policy. Since the Bank of Korea raised both its inflation and growth forecasts in May, markets have increasingly focused on inflationary pressures, the weaker won and financial stability risks. Even so, MarketAxess sees an important distinction between domestic and overseas investors. Local investors generally expect a 25-basis-point increase in the near term followed by another move later this year, lifting the benchmark policy rate from 2.50 percent to 3.00 percent. Overseas investors also believe the next move is likely to be upward, but remain less convinced that Korea is entering a prolonged tightening cycle. Most continue to price in only 25 to 50 basis points of additional hikes. That divergence reflects what Shah describes as Korea's increasingly "two-speed economy." "Semiconductor exports and investment remain very strong, but domestic demand continues to lag. Weak private consumption and the challenges facing small businesses suggest the recovery is not broad-based." The uneven recovery leaves policymakers confronting a difficult balancing act. Inflation, currency weakness and buoyant financial markets argue for tighter monetary policy, while fragile domestic demand limits how aggressively rates can be raised without undermining growth. "That creates a policy dilemma for the Bank of Korea," Shah said. "Inflation and won stability argue for higher interest rates, while the domestic economy isn't strong enough to absorb a substantial or sustained hiking cycle." MarketAxess trading data suggest global investors are already positioning for precisely that scenario. Although foreign investors continue to add Korean government bonds overall, demand has become increasingly concentrated in longer maturities. Bonds with less than two years remaining have experienced persistent selling as traders prepare for higher policy rates, while seven-to-ten-year and twenty-to-thirty-year maturities continue to attract steady inflows driven by WGBI positioning and long-term institutional allocations. The pattern suggests overseas investors are looking beyond the next Bank of Korea meeting. Rather than abandoning Korean government bonds because of near-term tightening risks, they appear to be treating Korea as a long-term strategic allocation within global sovereign debt portfolios—a distinction that could determine whether the country's exceptional run of foreign inflows extends well beyond the completion of its WGBI inclusion later this year. 2026-07-15 17:27:49
  • Namyang Dairy to Burn 22 Billion Won in Treasury Shares as Part of Shareholder Return Policy
    Namyang Dairy to Burn 22 Billion Won in Treasury Shares as Part of Shareholder Return Policy Namyang Dairy is continuing its shareholder return policy by retiring treasury shares acquired earlier this year.On July 15, Namyang Dairy announced that its board of directors decided on July 14 to retire 326,553 common shares and 108,851 preferred shares, totaling approximately 22 billion won.This retirement will be conducted using a profit retirement method, which allows for the retirement of previously acquired treasury shares within the scope of distributable profits. As a result, the number of issued shares will decrease without reducing the capital, leading to an expected increase in actual per-share value. Once the retirement is completed, the number of common shares will decrease from 6 million to 5,673,447, and preferred shares will drop from 2 million to 1,891,149.Namyang Dairy has been gradually implementing its shareholder return policy, following its decision in March to expand dividends and acquire 20 billion won in treasury shares. At that time, the company stated its intention to retire the acquired treasury shares as a principle.Meanwhile, since transitioning to the Han & Company management system in January 2024, Namyang Dairy has been undergoing significant organizational restructuring. As a result, the company successfully returned to profitability in operating income for the first time in five years last year, and it has shown improvements in both revenue and profitability in the first quarter of this year. Recently, the company has also expanded its overseas business by visiting Vietnam and Mongolia as part of a presidential economic delegation, where it signed a memorandum of understanding with local distribution companies for export.A Namyang Dairy representative stated, "This treasury share retirement is a decision aimed at maximizing shareholder value through capital management," adding, "We will continue to engage in return activities that enhance the rights of our shareholders based on stable management performance and financial soundness."* This article has been translated by AI. 2026-07-15 17:24:00
  • Toss Designated as First Financial Conglomerate, Big Tech Oversight Intensifies
    Toss Designated as First Financial Conglomerate, Big Tech Oversight Intensifies The financial authorities have designated Toss as the first financial conglomerate, marking the beginning of comprehensive oversight of big tech financial groups.On July 15, the Financial Services Commission announced during a regular meeting that it has designated eight financial groups, including Samsung, Hanwha, Mirae Asset, Kyobo, Hyundai Motor, DB, Daou Kiwoom, and Toss, as financial conglomerates for 2026.The most notable change in this designation is the inclusion of Toss. With total assets of 41.3 trillion won, Toss meets the criteria for designation as a financial conglomerate and will be the first among big tech financial groups to be subject to the Financial Conglomerate Act. Toss's primary business involves deposit and loan services, amounting to 33 trillion won, while its financial investment assets total 7.2 trillion won.A financial conglomerate is defined as a group that operates in at least two financial sectors—such as banking, insurance, and investment—and holds at least one licensed or registered financial company, with total assets exceeding 5 trillion won.Once designated as a financial conglomerate, the group must establish a risk management system at the group level. This includes selecting a representative financial company, developing internal control and risk management policies, and reporting on ownership, governance structure, capital adequacy, internal transactions, and risk concentration to the financial authorities. Additionally, the group must maintain a capital ratio of over 100% and undergo a risk management assessment every three years.However, for the newly designated Toss, key obligations related to capital adequacy assessment, internal control, risk management, and reporting will be deferred for six months from the designation date. During this period, Toss will select a representative financial company and establish a group-level supervisory system.The Financial Services Commission stated, "Through this designation, we expect that the system for self-managing group-level risks will be established for financial conglomerates, while group-level risk management and supervision of big tech financial groups will gradually strengthen."* This article has been translated by AI. 2026-07-15 17:24:00
  • Samsung Life Launches Senior Health Insurance Covering Dementia, Brain, and Joint Diseases
    Samsung Life Launches Senior Health Insurance Covering Dementia, Brain, and Joint Diseases 삼성생명은 치매와 뇌질환, 관절질환까지 보장하는 '삼성 시니어대표건강보험'을 오는 16일 출시한다고 15일 밝혔다. 이번 상품은 기존 '삼성 웰에이징 건강보험'의 치매·장기요양 보장을 기반으로 뇌질환과 관절질환 보장을 추가한 것이 특징이다. 시니어 고객에게 발생 빈도가 높은 생활밀착형 질환을 중심으로 보장을 강화했다. 특히 치매 치료 과정 전반에 대한 보장을 확대했다. 표적 치매 치료제 '레켐비' 치료와 치료 과정에서 발생할 수 있는 뇌출혈 부작용을 함께 보장하는 '통합표적치매치료보장특약'을 업계 최초로 도입했다. 알츠하이머 치료가 증상 완화에서 질병 진행 억제 중심으로 변화하는 환경을 반영해 치료 과정에서 발생할 수 있는 경제적 부담까지 대비할 수 있도록 했다. 치매와 연관성이 높은 뇌혈관질환, 뇌졸중, 뇌출혈 등에 대한 보장도 특약을 통해 제공한다. 치매 보장은 경증 이상, 중등도 이상, 중증으로 세분화해 보장의 완성도를 높였다. 관절질환 보장도 강화했다. '특정관절질환및손상보장특약'을 신설해 관절질환의 검사와 진단, 치료, 수술, 인공관절 치환 및 재치환 수술 등을 보장한다. 무릎과 어깨, 손목, 발목 등 시니어 고객에게 발생 빈도가 높은 주요 관절질환에 대한 보장을 확대했다. 보험료 부담도 낮췄다. 경제활동기에는 보험료를 집중 납입하고 은퇴 이후에는 납입 부담을 줄일 수 있는 무해약환급금형 체감납입 구조를 적용했다. 무해약환급금형은 보험료 납입 기간 중 계약이 해지될 경우 해약환급금이 없는 대신 보험료를 낮춘 구조다. 삼성생명 관계자는 "단순히 치매진단만 보장하는 시대를 넘어 치매 진행 완화 치료와 부작용, 생활질환까지 함께 대비하는 종합보장이 중요해지고 있다"며 "앞으로도 초고령사회에 대응하는 상품 라인업을 지속 확대해 나갈 계획이다"라고 말했다. * This article has been translated by AI. 2026-07-15 17:16:00
  • KB Life Hosts Financial Education Program at Saesol High School
    KB Life Hosts Financial Education Program at Saesol High School KB Life announced that it conducted a financial education program at Saesol High School in Hwaseong, Gyeonggi Province, as part of the Financial Supervisory Service's 'One Company, One School Financial Education' initiative on July 15.The 'One Company, One School Financial Education' program pairs financial institutions with schools to provide students with economic and financial education. This year, KB Life formed a partnership with Saesol High School for the first time, with employees serving as guest instructors for first- and second-year students.The training focused on fundamental economic concepts such as income, savings, and investment, aiming to enhance students' understanding of finance. Notably, the program utilized the 'I Want to Know About Finance' textbook produced by the KB Financial Public Interest Foundation to engage students and spark their interest in finance.A representative from KB Life stated, "Our employees are directly visiting schools to share financial knowledge, helping students develop a proper financial mindset. We will continue to contribute to strengthening the financial capabilities of future generations through various educational programs."* This article has been translated by AI. 2026-07-15 17:16:00
  • SH Corporation President Visits Magok Construction Site to Enhance Heat Response and Smart Safety Equipment Support
    SH Corporation President Visits Magok Construction Site to Enhance Heat Response and Smart Safety Equipment Support As summer heat continues, the Seoul Housing and Urban Development Corporation (SH) is enhancing safety management at construction sites and providing support for worker protection through site inspections and smart safety equipment.On July 14, SH President Hwang Sang-ha visited the construction site of Magok Complex 16 in Gangseo-gu, Seoul, to assess the measures in place to respond to the heat.This inspection aimed to prevent heat-related illnesses and safety accidents caused by the summer heat, ensuring the health and safety of workers on site.During the visit, Hwang checked the operation of worker convenience facilities such as break rooms and health management rooms, as well as compliance with the five key rules for preventing heat-related illnesses: hydration, shade, rest, cooling equipment, and emergency measures.Additionally, a simulated training exercise was conducted to prepare for potential heat-related incidents, and the smart safety management system utilizing artificial intelligence (AI) and the Internet of Things (IoT) was used to monitor real-time safety conditions on site.To encourage on-site workers, SH operated a coffee truck, providing cool beverages and souvenirs.Furthermore, SH plans to support small to medium-sized construction sites with budgets under 30 billion won by providing smart thermometers and smart airbags for fall prevention, enhancing safety management during the extreme heat. This initiative aims to prevent industrial accidents in smaller sites that may lack sufficient safety management resources.Hwang Sang-ha emphasized, "During the summer heat, managing the health of on-site workers is of utmost importance," urging all workers to adhere strictly to heat safety guidelines to ensure a healthy and safe working environment.Construction sites are considered high-risk environments for heat-related illnesses due to prolonged exposure to direct sunlight and the nature of physically demanding work. According to the Ministry of Employment and Labor, the number of workers approved for heat-related industrial accidents rose to 77 last year, nearly six times higher than five years ago.* This article has been translated by AI. 2026-07-15 17:08:00
  • First Public Display of Domestic UAM in South Korea
    First Public Display of Domestic UAM in South Korea The largest future aviation mobility exhibition in South Korea has opened, showcasing the current and future state of drones and Urban Air Mobility (UAM). This year marks the sixth edition of the 'Korea Drone & UAM Exhibition,' where a UAM aircraft developed by a domestic company was publicly unveiled for the first time. The event also presented concrete plans for initial commercialization, pilot training, and vertiport construction to make 'sky routes' a reality.The 2026 Korea Drone & UAM Exhibition kicked off on July 15 at the Songdo Convensia in Incheon, featuring a UAM aircraft developed by the Sambo Motors Group. However, the 'K-UAM Flight Showcase' scheduled to take place at Incheon University’s INU Innovation Center was postponed to July 16 due to weather and radio environment conditions.Kim Yoon-deok, Minister of Land, Infrastructure and Transport, stated at the showcase, "Today marks the first public appearance of a UAM made with our technology," adding, "It is a moment that makes us realize that the future, which once felt distant, is now approaching us rapidly." He emphasized that UAM could be utilized in various fields, including transportation and tourism in island regions, and pledged that the private sector, military, and government would work together to advance specific projects.Incheon Mayor Park Chan-dae highlighted that Incheon, with its world-class airport and port and 192 islands, is the most suitable city for testing drones and UAM. He stated, "Starting with the island regions, we will establish an Incheon-style UAM living zone connecting the old city and new towns, and we will accelerate the development of infrastructure such as vertiports."Although the public flight was delayed by a day, attendees at the Songdo Convensia could see the groundwork for UAM commercialization prepared by companies at the forefront of technology demonstration, along with central and local governments.The 'Korea Drone & UAM Exhibition' serves as a leading professional exhibition where the government, local governments, companies, and research institutions share the technological level, policy direction, and commercialization potential of the drone and future aviation mobility industries. This year, over 130 companies and institutions participated under the theme 'Drones & UAM: Changing Daily Life and Shaping the Future.' The exhibition featured displays of aircraft, vertiports, and control and communication systems, as well as policy conferences, business consultations, job fairs, and drone light shows, encompassing various programs for industry and public experience.Upon entering the exhibition hall, attendees were drawn to various UAM and drone aircraft, as well as the infrastructure and operational systems necessary to implement them as actual transportation means. The 'UAM Pavilion' showcased models of vertiports and UAM aircraft, an operational management system, and flight simulators, all designed with a view toward commercialization by 2030.Each booth presented not only aircraft but also technologies essential for commercialization, such as digital twins, operational management, and control systems. Hyundai Elevator showcased a vertical vertiport (H-PORT) system designed for installation in urban buildings, along with aircraft transport equipment, while Korea Aerospace Industries (KAI) introduced a dual-use 'Future Advanced Aircraft (AAV)' platform.The Korea Institute of Aviation Safety Technology (KIAST), a key organization in the drone sector, presented its achievements in developing five specialized drone platforms for public sectors such as firefighting, aviation safety, logistics, agriculture, and facility management through its drone commercialization support project. They also unveiled actual business outcomes, including an AI swarm drone system, high-capacity firefighting drones, domestically produced 30L agricultural drones, and AI solutions for facility inspections, outlining a roadmap for technological independence and commercialization in the domestic drone industry.The government also unveiled execution strategies for the commercialization of UAM and drones, moving beyond mere technology exhibitions.Kim Gi-hoon, head of the Urban Air Mobility Policy Division at the Ministry of Land, Infrastructure and Transport, stated, "We have moved from explaining what UAM is to asking when we can use it," emphasizing that the key word in government policy is 'feasibility.' He expressed determination to achieve initial commercialization, noting that the postponement of the flight demonstration is part of the process toward success.The government plans to prioritize initial commercialization models, including tourism, airport connection, and regional connection services, before expanding to urban services. Initial models include routes connecting Incheon Airport to tourist destinations and regional routes linking island areas that heavily rely on passenger ferries. In Incheon, a plan to connect Incheon Airport with Deokjeokdo Island was mentioned as a case study. Initial operations will allow aircraft with pilots onboard during daytime and under favorable weather conditions, utilizing the existing air traffic control system as much as possible.The government is also accelerating the establishment of a foundation for commercialization. Next year, it will launch the 'First UAM Pilot Selection Project' to support training for selected individuals with overseas aircraft manufacturers and operators, with plans to utilize them as instructors in the future. Additionally, a call for pilot operation zones will be conducted in the second half of this year, and the government is considering supporting the initial vertiport construction in selected local governments.In the drone sector, an AI-based industry development strategy was also announced. The Ministry of Land, Infrastructure and Transport plans to accumulate drone mission data by sector to develop specialized AI models for drones and establish a national AI drone training center to provide demonstration environments for both civilian and defense sectors. Furthermore, it will mandate the installation of drone identification devices by 2028 and establish a national integrated flight information management system by 2030 to create a drone traffic management system. Improvements to the approval system for nighttime and beyond-visual-line-of-sight flights and the expansion of special drone liberalization zones are also being pursued.Throughout the event, anticipation from the government, industry, and local governments was palpable. Lee Min-seok, a science creator known as 'Geekble,' emphasized in his keynote speech, "Technology does not start perfectly; challenges and failures accumulate to ultimately change the world. UAM will follow the same path."Mayor Park Chan-dae also remarked in his welcoming address at the opening ceremony, "This exhibition is not just a technology showcase but an innovative space where we can meet what will soon become part of our daily lives. I hope everyone can fully experience the new future here in Incheon."* This article has been translated by AI. 2026-07-15 17:04:00
  • Our Venture Partners CEO Kim Chang-kyu: Lutton is the Next Unicorn Candidate
    Our Venture Partners CEO Kim Chang-kyu: 'Lutton is the Next Unicorn Candidate' The South Korean government is strengthening policy financing through initiatives like the National Growth Fund and the Mother Fund to enhance the competitiveness of strategic industries such as artificial intelligence (AI), semiconductors, and biotechnology. This comes as a welcome relief for venture startups that have been struggling with funding shortages, as tens of trillions of won in policy funds are expected to flow into the market. The role of private venture capital firms, which select high-potential companies and support them over the long term, has become more crucial than ever.Recently, we spoke with Kim Chang-kyu, CEO of Our Venture Partners, a leading player in the VC industry known for producing numerous unicorns, including Dalba Global, Viva Republica (Toss), and Woowa Brothers (Baedal Minjok).Our Venture Partners' investment philosophy is centered on being an 'early partner.' Instead of making large-scale investments all at once, the firm gradually increases its investment in line with a company's growth, nurturing promising businesses into successful ones. Kim stated, "The role of venture capital is to discover good companies at the forefront during times of rapid industrial change. We must supply capital where it is needed to help promising companies grow into great ones." He noted that while the typical investment ratio for VC firms is around 5%, Our Venture Partners exceeds 15%, reflecting a commitment to share risks with investors.Leading VC Firm Behind Unicorns Like Dalba and TossDalba Global exemplifies Our Venture Partners' investment capabilities. The firm first invested in Dalba Global through the KTBN No. 13 and No. 16 venture investment funds in 2019, followed by three rounds of additional investments. Kim emphasized, "We expect to recover about 300 billion won from our investment in Dalba Global, marking another landmark deal for Our Venture Partners."In 2024, the KTBN No. 7 venture investment fund, which invested in Woowa Brothers and Viva Republica, produced six unicorns. The fund achieved a liquidation return rate of 32% and an investment return rate of 478.4%. Established in May 2014 with 68.2 billion won, KTBN No. 7 was liquidated after ten years, generating approximately 250 billion won in profits.Kim attributed the success of KTBN No. 7 to the timing of investments coinciding with a paradigm shift in foundational technologies toward mobile internet. He also highlighted the firm's ability to select standout companies like Woowa Brothers and Toss from numerous mobile platform firms.Woowa Brothers is a prime example of a company that connected existing offline services with online platforms based on mobile internet. Kim explained, "While various business models utilizing mobile platforms emerged, the delivery service quickly penetrated consumer daily life, realizing its growth potential. The delivery business is significant not only at the national level but also has the potential to expand in densely populated urban areas, providing sufficient competitiveness if it dominates regional markets."Toss transformed consumer financial services by offering convenient options that traditional financial institutions could not provide. Kim remarked, "Many fintech companies have emerged globally with innovative financial solutions, but Toss has demonstrated the most successful outcomes. International investors continue to invest in Toss, confident in the growth potential of the fintech industry."“Next Unicorn Candidate is Lutton Technologies”Kim identified Lutton Technologies as the next unicorn candidate. Our Venture Partners invested 2 billion won in Lutton's Series A funding round in 2023 and recently committed an additional 10 billion won in the Series B round. This reflects the firm's staged investment strategy, which increases investment as it observes the company's growth and business model evolution.Kim praised Lutton for successfully expanding its business from AI productivity tools to a content platform, finding a viable revenue model. He explained that for AI application companies that utilize external models rather than developing their own large language models, establishing a stable revenue structure is crucial due to high usage costs.Initially, Lutton focused on tools to enhance productivity and collaboration but faced challenges in finding a revenue model. However, it has rapidly increased users and revenue by expanding into the character chat content business. This service allows users to interact with a variety of AI characters they create. Kim noted that, similar to how Naver established a revenue base through Hangame before building its search advertising market, Lutton has secured a revenue model for its AI platform through its content services.Kim described the character chat as akin to a content industry similar to gaming, where users create stories by conversing with characters on various topics, establishing a monetization model. He added, "Not only is traffic increasing, but average revenue per user is also rising rapidly, with monthly revenue reportedly exceeding 10 billion won."Strengthening Global Investment Capabilities… Aiming to Become a Global Investment Leader in 10 YearsKim assessed that the venture industry is positioned for further growth. As the pace of industrial change accelerates, venture capital must identify promising companies in the early stages of new industries and provide necessary funding.He emphasized the role of venture capital, stating, "It is essential to discover good companies at the forefront during times of rapid industrial change and to supply capital where it is needed to help promising companies grow into great ones."Our Venture Partners also plans to enhance its global investment capabilities. The firm is identifying promising domestic and international companies based on its offices in Shanghai, Singapore, and the United States. Kim expressed a desire to become a globally recognized investment leader representing South Korea in ten years.* This article has been translated by AI. 2026-07-15 17:04:00
  • Veteran VC Leader Kim Chang-kyu Discusses Ways to Revitalize Venture Investment
    Veteran VC Leader Kim Chang-kyu Discusses Ways to Revitalize Venture Investment Our Venture Partners is a pioneering company in South Korea's venture capital (VC) industry, celebrating its 45th anniversary this year. Founded in 1981 as a public enterprise under Korea Technology Development, it was privatized in 1999 and renamed KTB Network. After rebranding to Daol Investment, it became part of the Woori Financial Group, adopting its current name.CEO Kim Chang-kyu has been at the helm since 2021, during the KTB Network era, and is a prominent figure in the domestic VC sector. With over 30 years of experience in the industry, he has achieved significant success. Under his leadership, Our Venture Partners has earned a reputation as a 'unicorn factory,' successfully nurturing early-stage companies into unicorns valued at over 1 trillion won. Notable successes include Toss, Woowa Brothers, Dalba Global, Hugel, Calsgen, Oris Health, and NoBroker.Kim noted that while the VC industry has seen some relief this year, fundamental challenges remain. He pointed out that although the venture investment market has expanded rapidly, the market for recovering investments has stagnated. He explained that avenues for exits, such as initial public offerings (IPOs) and mergers and acquisitions (M&A), have not sufficiently broadened, leading to a bottleneck in capital circulation."The venture investment market has grown, but the exit market remains unchanged," Kim emphasized. "In a situation where the IPO market is sluggish, we need to develop the secondary market to facilitate the circulation of investment funds." He added, "Domestic VCs invest over 40 trillion to 50 trillion won annually, but for those investments to be recouped, companies must go public or undergo M&A. Currently, both pathways are not functioning adequately, resulting in a bottleneck."While he agrees in principle with the need to eliminate underperforming companies, he cautioned against an overly conservative approach. He stated, "It is important to filter out penny stocks and zombie companies, but if we continue to raise the bar for listings by emphasizing only soundness, we risk stifling funding opportunities for growth companies and the chances for VCs to recoup their investments." He suggested that the criteria for technology-based special listings should be expanded beyond just biotech to include deep-tech companies that require longer growth periods. He warned that raising the listing threshold based on a few negative examples could hinder new companies from entering the market.Kim proposed enhancing the secondary market as a complementary solution for the exit market. He noted, "Many companies still need additional funding after going public, but they are often excluded from investment targets. We need to create an environment where VCs can make follow-up investments in these companies." He stressed, "While supplying new funds to companies is important, ensuring that existing investments can be recouped and flow back into other companies is crucial for the venture ecosystem. As IPO recoveries stagnate, the secondary market will inevitably grow."He also called for regulatory improvements to stimulate M&A activity. Kim stated, "The main entities capable of acquiring startups are mid-sized and large companies, but there are significant constraints due to regulations on subsidiary integration and tax issues. It is necessary to rationally reform related regulations to encourage buyers to actively pursue M&A opportunities."* This article has been translated by AI. 2026-07-15 17:04:00
  • Director Na Hong-jin Discusses His New Film Hope After a Decade
    Director Na Hong-jin Discusses His New Film 'Hope' After a Decade Director Na Hong-jin's new film has always sparked anticipation and tension. Known for twisting familiar genre paths in films like 'The Chaser,' 'The Wailing,' and 'The Strangers,' he returns with 'Hope,' his first feature in ten years."I first thought, 'This is good enough to be a draft,' back in 2018. I started preparing then. However, there were many processes involved. There was so much to study and prepare. The story needed to be further detailed and deepened. The most important question was how to make the film. There were many elements to consider, from how to shoot to post-production and whether we had the right equipment. That preparation took a lot of time," he said.'Hope' begins with reports of a tiger sighting near Hopo Port, close to the Demilitarized Zone. The film, which has a production budget of around 70 billion won, has garnered attention as one of the most anticipated Korean films of 2026, having been invited to compete at the 79th Cannes Film Festival. After its premiere at Cannes, some edits were made for the domestic release."There were shots of a character named Yang-bae (played by Um Mun-seok) that I had removed, but I felt regret about it. So, I restored and enhanced those shots related to that character. However, that made the film longer. We decided to cut a few scenes that weren't essential," he explained.Despite these changes, 'Hope' has a lengthy runtime of 2 hours and 40 minutes. Na emphasized that his focus was on ensuring the audience could immerse themselves in the film rather than just endure the time."I aimed to make that time not feel difficult or painful. However, I didn't want to compromise the story or the film. I thought a lot about how to make the audience feel comfortable and engaged during that time," he said.The significant budget also brought pressure. Given the current downturn in the Korean film industry, Na recognized that focusing solely on the domestic market might not be sufficient. He considered genre expansion and the global market."That thought was definitely there. I had a feeling that a tremendous change was coming to the market when I started this project. My previous works also reflected this, and one of the characteristics of Korean cinema is its ability to blend various genres within a single film. Foreign journalists often comment on how well Korean films mix different genres. I thought I needed to create a film that leaned more towards genre, as the era of making films solely for the domestic market might be over. I realized that if we don't generate revenue from outside, it could become difficult, so I focused on that and aimed to elevate the film's quality. It's concerning. It might seem reckless, but I believe it's a safer path," he said.The design of the aliens, a crucial aspect of the film, was also a product of extensive time and effort. Na started with familiar alien imagery but continuously modified the design through discussions with professionals who have worked on various creature designs in Hollywood."Initially, I thought about introducing traditional designs of aliens that you see in tabloids, where it's hard to tell if they are real or fake. That was my starting point. However, while working with foreign collaborators, I received a lot of insights. I learned about how aliens are portrayed in current films and whether to stick with my original ideas or change them. I received many explanations and advice about the script, and I kept experiencing changes based on suggestions for certain scenes or situations," he said.Even after the design was finalized, challenges remained. It was crucial to determine how the creatures would appear and move within the scenes, alongside the actors and the pace of the action."When I thought the design was finalized, changes occurred during the preparation for shooting and post-production. Just because the design was in the film doesn't mean it would be clearly visible. If the creatures move dynamically in daylight, motion blur is inevitable. The creatures had to be composited accordingly, which meant that some shots where the design was clearly visible ended up being cut. From the beginning to this point, it took an absurd amount of time, and we experienced changes every day to get here," he said.The inspiration for 'Hope' came from a memory of an unfamiliar village encountered during a trip long ago. Na noted that he recorded the strange fear and tension he felt in a small foreign town in his notebook, which became the foundation for the film."About 15 years ago, I traveled abroad and drove around for a while. On my way home, I stopped in a small town that felt very strange. There was no one in sight. Each house had totem-like objects, and even in broad daylight, it was eerie. I remember being there for a short time and writing about 20 to 30 pages in my notebook. I think those notes might be the beginning of this film," he said.The actors' performances left a lasting impression on Na. He noted that the actors went beyond mere agreement to the project and undertook the necessary training and preparation for their roles."The actors agreed to all of this, which made it possible. However, I think it was more than just agreement. To achieve this level of coordination, a lot of preparation is needed. For any action to happen continuously, at least 50 or more people need to coordinate precisely. The actors had to work hard to achieve that coordination. If they needed to ride horses, they had to become familiar with them and learn horseback riding. They put in a tremendous amount of effort," he said.There were also moments when scenes expected to be handled with CGI were performed directly by the actors. Na described this as a "miracle." "There were quite a few moments on set that everyone thought would be resolved with CGI. However, there were scenes that no one expected would be completed with the actors performing. But the actors managed to pull it off miraculously. Actions like getting off a horse and moving their legs are not something an average person can do. Yet they did it. There were also scenes where they had to drive a car while acting and filming. I was grateful to everyone," he said.Known for his attention to detail, Na acknowledged that having no compromises on set is impossible. He emphasized that the key is not to avoid compromise but to prepare multiple alternatives and make the best choice for the situation."It's impossible to have no compromises on set. It comes down to how many simulations you have done and how many alternatives you have prepared. How much you have prepared is also important. I'm not the type to push through at all costs. If something doesn't work, I think about how to express that scene differently," he said.As his films are released, audiences expect intense experiences. Na is aware of this expectation and feels the pressure when presenting his work."That pressure is natural. I tend to be a cautious person, and I genuinely consider each audience member. When I watch a film by a specific filmmaker, I feel a different kind of tension before it starts. I hope the audience watches my film with that same level of anticipation, and I strive to create that experience. I have no choice but to give my best. I think, 'What else can I do but give my all?'Regarding the expectations surrounding 'Hope' amid the crisis in the Korean film industry, he responded cautiously. While one film cannot save the entire industry, he hopes it can assist in guiding audiences back to theaters."It's burdensome. However, the focus shifts a bit. It's not just about this film; it's about the audience. This film can play a supportive role, but the key lies with the audience. It's important how much effort they put into visiting theaters and how much they cherish and understand the film. It's burdensome, but I will do my best," he concluded.* This article has been translated by AI. 2026-07-15 17:00:00